Business information – dwell: FTSE 100 near file excessive as inventory markets open
The FTSE 100 closed just short of a new record high yesterday, but Wednesday brings a new set of factors which may sway investor sentiment, including Rachel Reeves detailing her spending review, which is expected to included £5bn in cuts.
Final results are due from the likes of Revolution Beauty – under the microscope with Frasers recently – while overnight markets in Asia reacted by pushing higher after another day of trade talks in London between Washington and Beijing.
Further reaction is expected to the news of the FCA giving the Pisces stock market for private companies the go-ahead, while speculation around the Bank of England preparing to lower interest rates once more next week also arose following lowered employment data and slowing salary growth.
Here’s all the latest news around business, money and the stock markets today:
Wednesday business watchlist: Rachel Reeves, Revolution Beauty and more
Here’s a run-down of the headline events worth watching out for across the coming hours.
Wednesday financials are coming from (among others) Frontier Developments, Ibstock, Worldwide Healthcare Trust and Revolution Beauty.
The latter is notable as Frasers owner Mike Ashley has signalled that if a bid is forthcoming for Revolution Beauty, it will be an all-cash offer.
Its market value is now around £20m after a big slump this year.
Rachel Reeves’ spending review is the big focus of businesses and taxpayers alike today too – that’s coming at 12.30pm with a Treasury briefing sometime after 1pm.
We’ll also bring you the latest on currency exchanges, commodities and of course how the major markets are doing.
FTSE100 to open just shy of record high
On Tuesday, the FTSE 100 closed at 8853.08p – just shy of the all time high set in March, of 8871.31p.
The index did push beyond that mark during the day, before falling back somewhat in the late afternoon.
Perhaps today will be see the new high ushered in – but there’s lots to digest across the day before that’s the case.
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